RCM Technologies (NASDAQ:RCMT) Posts Earnings Results, Beats Expectations By $0.02 EPS

RCM Technologies (NASDAQ:RCMT – Get Rating) posted its quarterly earnings data on Thursday. The business services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02, Yahoo Finance reports. The business had revenue of $70.22 million during the quarter, compared to the consensus estimate of $67.05 million. RCM Technologies had a net margin of 7.88% and a return on equity of 61.19%.

RCM Technologies Price Performance

NASDAQ:RCMT traded down $0.13 during mid-day trading on Friday, reaching $12.85. 93,881 shares of the stock were exchanged, compared to its average volume of 56,998. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $13.63 and a 200 day moving average price of $14.84. RCM Technologies has a 1-year low of $7.36 and a 1-year high of $28.82. The firm has a market capitalization of $126.47 million, a PE ratio of 6.43 and a beta of 0.87.

Institutional Investors Weigh In On RCM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of RCM Technologies by 6.0% in the 3rd quarter. Royal Bank of Canada now owns 14,000 shares of the business services provider’s stock worth $234,000 after purchasing an additional 798 shares during the last quarter. State Street Corp boosted its holdings in RCM Technologies by 3.6% during the first quarter. State Street Corp now owns 25,955 shares of the business services provider’s stock worth $256,000 after buying an additional 900 shares in the last quarter. UBS Group AG grew its position in RCM Technologies by 18.8% in the third quarter. UBS Group AG now owns 8,354 shares of the business services provider’s stock worth $139,000 after buying an additional 1,320 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of RCM Technologies in the second quarter valued at $52,000. Finally, Citigroup Inc. acquired a new stake in shares of RCM Technologies during the 1st quarter valued at $26,000. 40.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of RCM Technologies in a research note on Thursday. They issued a “buy” rating for the company.

About RCM Technologies

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RCM Technologies, Inc engages in the provision of business and technology solutions. It operates through the following segments: Engineering, Specialty Health Care, and Information Technology. The Engineering segment offers a portfolio of engineering and design services across energy services, process and industrial, and aerospace sectors.